Unibail-Rodamco-Westfield
Market Cap
€19.1b
Last Updated
2019/12/15 22:40 UTC
Data Sources
Company Financials +
Executive Summary
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.0 Bn as at June 30, 2019, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -5.5% per year for the next 3 years
Snowflake Analysis
Good value average dividend payer.
Similar Companies
Share Price & News
How has Unibail-Rodamco-Westfield's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: URW has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.8%
URW
-3.0%
NL REITs
0.2%
NL Market
1 Year Return
-4.6%
URW
-6.3%
NL REITs
14.2%
NL Market
Return vs Industry: URW exceeded the Dutch REITs industry which returned -6.3% over the past year.
Return vs Market: URW underperformed the Dutch Market which returned 14.2% over the past year.
Shareholder returns
| URW | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.8% | -3.0% | 0.2% |
| 30 Day | -3.5% | -3.9% | 0.6% |
| 90 Day | 6.7% | 5.9% | 0.3% |
| 1 Year | 3.1%-4.6% | 1.3%-6.3% | 19.3%14.2% |
| 3 Year | n/a | 36.1%16.9% | 38.9%23.0% |
| 5 Year | n/a | 53.6%20.6% | 66.6%33.1% |
Price Volatility Vs. Market
How volatile is Unibail-Rodamco-Westfield's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall St
Should Unibail-Rodamco-Westfield (AMS:URW) Be Part Of Your Dividend Portfolio?3 months ago | Simply Wall St
Volatility 101: Should Unibail-Rodamco-Westfield (AMS:URW) Shares Have Dropped 26%?3 months ago | Simply Wall St
Do Institutions Own Shares In Unibail-Rodamco-Westfield (AMS:URW)?Valuation
Is Unibail-Rodamco-Westfield undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: URW (€138) is trading below our estimate of fair value (€368.39)
Significantly Below Fair Value: URW is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: URW is good value based on its PE Ratio (12.2x) compared to the REITs industry average (13.7x).
PE vs Market: URW is good value based on its PE Ratio (12.2x) compared to the Dutch market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: URW's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: URW is overvalued based on its PB Ratio (0.7x) compared to the NL REITs industry average (0.6x).
Next Steps
Future Growth
How is Unibail-Rodamco-Westfield forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
-5.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: URW's earnings are forecast to decline over the next 3 years (-5.5% per year).
Earnings vs Market: URW's earnings are forecast to decline over the next 3 years (-5.5% per year).
High Growth Earnings: URW's earnings are forecast to decline over the next 3 years.
Revenue vs Market: URW's revenue (0.2% per year) is forecast to grow slower than the Dutch market (5.6% per year).
High Growth Revenue: URW's revenue (0.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: URW's Return on Equity is forecast to be low in 3 years time (6.9%).
Next Steps
Past Performance
How has Unibail-Rodamco-Westfield performed over the past 5 years?
-2.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: URW has a large one-off loss of €1.0B impacting its June 30 2019 financial results.
Growing Profit Margin: URW's current net profit margins (48%) are lower than last year (63.2%).
Past Earnings Growth Analysis
Earnings Trend: URW's earnings have declined by -2.1% per year over the past 5 years.
Accelerating Growth: URW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: URW had negative earnings growth (-3.5%) over the past year, making it difficult to compare to the REITs industry average (13.6%).
Return on Equity
High ROE: URW's Return on Equity (5.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Unibail-Rodamco-Westfield's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: URW has a high level of physical assets or inventory.
Debt Coverage by Assets: URW's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: URW's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if URW has a sufficient allowance for bad loans.
Low Risk Liabilities: URW reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if URW has an acceptable proportion of non-loan assets held.
Low Risk Deposits: URW has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if URW has an appropriate level of bad loans.
Next Steps
Dividend
What is Unibail-Rodamco-Westfield's current dividend yield, its reliability and sustainability?
7.83%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: URW's dividend (7.83%) is higher than the bottom 25% of dividend payers in the Dutch market (2.15%).
High Dividend: URW's dividend (7.83%) is in the top 25% of dividend payers in the Dutch market (5.53%)
Stability and Growth of Payments
Stable Dividend: Too early to tell whether URW's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if URW's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (39.8%), URW's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: URW's dividends in 3 years are forecast to be thoroughly covered by earnings (0.6% payout ratio).
Next Steps
Management
What is the CEO of Unibail-Rodamco-Westfield's salary, the management and board of directors tenure and is there insider trading?
7.0yrs
Average management tenure
CEO
Christophe Cuvillier (57yo)
6.7yrs
Tenure
€4,999,784
Compensation
Mr. Christophe Cuvillier has been Chairman of Management Board at Unibail-Rodamco-Westfield SE (formerly, Unibail-Rodamco SE) since April 25, 2013 and serves as its Chief Executive Officer. Mr. Cuvillier s ...
CEO Compensation Analysis
Compensation vs Market: Christophe's total compensation ($USD5.56M) is about average for companies of similar size in the Dutch market ($USD4.38M).
Compensation vs Earnings: Christophe's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
7.0yrs
Average Tenure
52yo
Average Age
Experienced Management: URW's management team is seasoned and experienced (7 years average tenure).
Board Age and Tenure
2.7yrs
Average Tenure
56.5yo
Average Age
Experienced Board: URW's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 34.3%.
Management Team
Jean-Marie Tritant (52yo)
President of US
- Tenure: 0yrs
- Compensation: €1.55m
Michel Dessolain (64yo)
Chief Operating Officer - Europe
- Tenure: 0yrs
- Compensation: €927.66k
Christophe Cuvillier (57yo)
Group CEO & Chairman of Management Board
- Tenure: 6.7yrs
- Compensation: €5.00m
Jaap Tonckens (57yo)
Group CFO & Member of Management Board
- Tenure: 7.4yrs
- Compensation: €2.83m
Fabrice Mouchel (49yo)
Chief Financial Officer of Europe
- Tenure: 18.9yrs
- Compensation: €1.06m
Astrid Panosyan (48yo)
Group Chief Resources Officer
- Tenure: 4.3yrs
- Compensation: €1.06m
Sylvain Montcouquiol
Group Director of Human Resources & Organization
- Tenure: 0yrs
David Zeitoun (51yo)
Group Director of Legal
- Tenure: 0yrs
Pierre Hausswalt
Group Director of Communication and Public Affairs
- Tenure: 0yrs
Maarten Otte
Investor Relations
- Tenure: 0yrs
Board Members
John McFarlane (72yo)
Member of the Supervisory Board
- Tenure: 1.5yrs
Colin Dyer (67yo)
Supervisory Board Chairman
- Tenure: 2.7yrs
- Compensation: €186.00k
Philippe Collombel (58yo)
Supervisory Board Member
- Tenure: 2.7yrs
Jacques Stern (55yo)
Supervisory Board Member
- Tenure: 3.7yrs
Roderick Marie Stella Munsters (56yo)
Supervisory Board Member
- Tenure: 2.7yrs
Jill Granoff (57yo)
Supervisory Board Member
- Tenure: 1.6yrs
Sophie Etchandy-Stabile (49yo)
Supervisory Board Member
- Tenure: 4.7yrs
Dagmar Kollmann (55yo)
Supervisory Board Member
- Tenure: 5.7yrs
Mary Harris (53yo)
Vice Chairman of Supervisory Board
- Tenure: 0yrs
Jacqueline Tammenoms Bakker (66yo)
Supervisory Board Member
- Tenure: 4.7yrs
Company Information
Unibail-Rodamco-Westfield's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Unibail-Rodamco-Westfield
- Ticker: URW
- Exchange: ENXTAM
- Founded: 1968
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €19.096b
- Shares outstanding: 138.38m
- Website: https://www.urw.com
Number of Employees
Location
- Unibail-Rodamco-Westfield
- 7 place du Chancelier Adenauer
- CS 31622
- Paris
- Ile-de-France
- 75772
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| UNIR.F | OTCPK (Pink Sheets LLC) | CDI 20:1 | US | USD | May 2018 | |
| URW | CHIA (Chi-X Australia) | CDI 20:1 | AU | AUD | May 2018 | |
| URW | ASX (Australian Securities Exchange) | CDI 20:1 | AU | AUD | May 2018 | |
| 1BR1 | DB (Deutsche Boerse AG) | Yes | Stapled Securities | DE | EUR | Jun 2018 |
| URW | BIT (Borsa Italiana) | Yes | Stapled Securities | IT | EUR | Jun 2018 |
| URW N | BMV (Bolsa Mexicana de Valores) | Yes | Stapled Securities | MX | MXN | Jun 2018 |
| URW | ENXTAM (Euronext Amsterdam) | Yes | Stapled Securities | NL | EUR | Jun 2018 |
| UL | WBAG (Wiener Boerse AG) | Yes | Stapled Securities | AT | EUR | Jun 2018 |
| 0YO9 | LSE (London Stock Exchange) | Yes | Stapled Securities | GB | EUR | Jun 2018 |
| 1BR1 | SWX (SIX Swiss Exchange) | Yes | Stapled Securities | CH | CHF | Jun 2018 |
| UNBL.F | OTCPK (Pink Sheets LLC) | Yes | Stapled Securities | US | USD | Jun 2018 |
| URWA | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Stapled Securities | GB | EUR | Jun 2018 |
Biography
Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship destinations, with a portfolio valued at €65.0 Bn as at June 30, 2019, of which 86% in retail, 7% in offices, 5% in conven ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/15 22:40 |
| End of Day Share Price | 2019/12/13 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.